Australian Treasurer Jim Chalmers has initiated a broad discussion on potential tax reforms as part of the Albanese government's second-term economic agenda. Ahead of the economic reform summit scheduled for August, Chalmers emphasized the need to address productivity growth and fix a budget he described as unsustainable, particularly in light of increased spending on defense and the care economy. He acknowledged the challenges posed by the net-zero transition to traditional revenue sources. While he has opened the door to various tax changes, including a possible Goods and Services Tax (GST) shake-up, Chalmers has ruled out raising the GST rate itself, with Prime Minister Anthony Albanese signaling that such an increase does not align with progressive taxation principles. The Treasurer has also taken taxes on death and the family home off the reform agenda. The proposed superannuation tax changes, especially those affecting accounts above $3 million, have drawn criticism from fund managers, unions, and business groups, with warnings that they could discourage investment and harm young Australians' financial aspirations. Former Prime Minister Paul Keating has also cautioned that the super tax could impact more Australians than initially expected, increasing pressure for compromise. Chalmers has invited bipartisan participation in the reform discussions, securing opposition Treasury spokesman Ted O’Brien a seat at the table, though he has not confirmed Coalition involvement. The government is seeking collaboration among politicians, union leaders, and business figures to achieve long-term economic reform. Additionally, Chalmers commented on the Reserve Bank of Australia's (RBA) recent decision to hold interest rates, noting that the outcome was not what many Australians or the market anticipated but that the RBA has set a clear path for inflation and interest rate trends. Alternative revenue-raising ideas suggested by experts include broadening the GST base to cover private school fees and private health insurance or taxing the gas industry, aiming to avoid disproportionate impacts on low-income households.